NCERT · Class 10 · Social Science · History: The Making of a Global WorldBritain had a 'trade surplus' with India. What does 'trade surplus' mean?
Step-by-Step Solution
A trade surplus occurs when the value of a country's exports is higher than the value of its imports. Britain used this surplus to balance its trade deficits with other countries.
Detailed Options Breakdown
Option : Value of exports is higher than the value of imports (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 1: Value of imports is higher than the value of exports
Incorrect choice. This distractor represents a common misunderstanding of the core principles of History: The Making of a Global World.
Option 2: Equal value of imports and exports
Incorrect choice. This distractor represents a common misunderstanding of the core principles of History: The Making of a Global World.
Option 3: No trade between countries
Incorrect choice. This distractor represents a common misunderstanding of the core principles of History: The Making of a Global World.
💡 Study Guide: This question tests core syllabus concepts from History: The Making of a Global World. For formulas, key summaries, and mock exam reference guides, read the full History: The Making of a Global World Revision Notes.